If you own a holiday home that is not located in the UK, special care should be taken when insuring it against loss or damage.  While there are some universal rules for insurance coverage, each country and regulatory area has its own restrictions, and knowing those will make a big difference in not only choosing insurance, but with filing a claim, if that should be necessary.

One big difference to your policy and the cost of it will involve whether or not you let the property.  Know and understand the rules in the area where your property is located and, if possible, have a copy of them in writing.  For example, some condominium associations have their own rules for if a condo may be let go, and if so, for how long.  If there are restrictions on the amount of time it may be let to others for holiday use, that may reduce the cost of your policy.

If your holiday home has a mortgage, check with your lender to see what is required should you decide to let it out for holiday rentals.  Coverage that might be required or preferred includes:  accidental damage, loss of income, personal possessions cover and public liability cover.

Once you decide on exactly the cover you want, request several home insurance quotes.  Especially with holiday homes, the costs can vary widely from company to company, so a few minutes spent gathering information can save you hundreds of pounds.